Hiren Vira (Business) (63 Points)
30 January 2011I had received an amount after the merger of Reliance Petroleum with Reliance Industries Ltd. I want to know how it should be shown in the IT return? Should it be shown as divedend income or capital gain. Please advise me at the earliest. Thanks in advance.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 30 January 2011
capital gain (LTCG if holding is more than 365 days, STCG if less than 365 days)
its payment of fractional entitlement so the cost of original holding should be reduced proportionately
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